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Insurance UK

  • January 4, 2019

    Europe Unveils Draft Sustainability Rules For Firms, Insurers

    The European Commission stepped up its fight against climate change on Friday, unveiling draft rules that will require financial institutions and insurers to consider sustainability when giving out investment advice.

  • January 4, 2019

    Norton Rose Dragged Into ABN Amro Cargo Insurance Suit

    An insurance intermediary has rejected claims that it arranged faulty cargo insurance for a commodity finance business owned by Dutch lender ABN Amro Bank, claiming in High Court documents that the disputed policy clause was drafted by the company’s law firm, Norton Rose Fulbright LLP.

  • January 4, 2019

    Insurer Fights Shipping Giant After Cheese Deal Sours

    A Danish dairy giant and its insurer are demanding damages from a major global shipping company after thousands of cartons of cream cheese allegedly perished in sub-zero temperatures while en route to Libya, according to a claim filed at a London court.

  • January 3, 2019

    Swiss Manufacturer Can't Beat £4.3M Award In Pension Row

    A judge in the United Kingdom has blocked a request from a Swiss-based manufacturing company seeking to appeal her decision requiring it to pay £4.3 million ($5.43 million) to the trustees of its employee pension scheme, concluding the company’s petition has no prospect of success.

  • January 3, 2019

    UK's Bowmark Capital Brings In £600M For Latest PE Fund

    Midmarket private equity firm Bowmark Capital LLP, with help from legal advisers Stephenson Harwood and Pepper Hamilton LLP, has closed its latest flagship fund after raising £600 million ($757.9 million) from investors, the firm said on Thursday.

  • January 3, 2019

    FCA Guides Employees On Avoiding Conflicts Of Interest

    The Financial Conduct Authority said it has instructed its staff to declare and surrender gifts worth more than £30 ($37.8) under a sweeping policy designed to tackle conflicts of interest at the regulator.

  • January 3, 2019

    Insurers Continue Exodus From UK Ahead of Brexit

    Two leading insurance companies said Thursday they have finalized Brexit relocation plans by transferring their U.K. cross-border contracts or offices to mainland Europe, adding to the list of insurers and reinsurers moving ahead of Britain's withdrawal from the bloc. 

  • January 3, 2019

    Bank of England Appoints Veterans To Top Policy Panel

    Two industry veterans have been appointed to serve as external members on one of the Bank of England’s top panels, which monitors financial health, HM Treasury said Thursday.

  • January 2, 2019

    UK Rolls Out New Rules On Executive Pay At Large Cos.

    The U.K’s largest companies will be forced to disclose how much their bosses are paid — and the size of the pay gap between the most senior staff and their average employee — under new rules that came into force Tuesday and are designed to boost accountability at the highest level.

  • January 2, 2019

    UK Claims Managers Told To Seek Temporary Authorization

    Claims management companies are now able to apply for temporary permission to operate lawfully in the U.K., the Financial Conduct Authority said Wednesday, as it prepares for the introduction of a tough authorization regime in April.

  • January 2, 2019

    UK Judge Fells Timber Co.'s US Suit Against London Insurer

    A London judge has ruled that a U.S. timber giant cannot pursue legal proceedings in a Washington DC court against Lloyd’s of London insurer Catlin and XL Insurance in an attempt to force them to pay out liability cover under an excess-of-loss insurance policy.

  • January 2, 2019

    FCA Orders Business To Stop Marketing Investments

    The Financial Conduct Authority has ordered an investment company to stop marketing its fixed-rate investment bonds and individual savings accounts as it carries out an investigation.

  • January 1, 2019

    Cybersecurity & Privacy Predictions For 2019

    Cybersecurity and privacy will continue to remain top-of-mind for companies in 2019, with the cyberthreat landscape expected to keep growing, vendor relationships taking on added importance, U.S. states continuing to flex their muscles and international data transfers getting even stickier. Here, attorneys offer five predictions for what promises to be another big year in the cybersecurity and privacy realm.

  • January 1, 2019

    Cybersecurity & Privacy Policy To Watch In 2019

    Momentum is expected to build significantly in 2019 for the enactment of a comprehensive federal privacy framework in the U.S., while the pair of laws that played a major role in fueling these efforts — California's landmark Consumer Privacy Act and the European Union's General Data Protection Act — will continue to loom large, according to attorneys.

  • January 1, 2019

    UK Banks, Insurers Brace For Busy Regulatory Year In 2019

    The U.K.'s financial services face a regulatory reckoning on Brexit in 2019, as well as a shift away from the long-standing Libor benchmark and a deadline for payment protection insurance complaints that have cost banks billions of pounds in compensation. Here Law360 looks at the hurdles facing banks and insurers in the year ahead.

  • January 1, 2019

    UK Financial Services, Insurance Cases To Watch In 2019

    Two of Britain's most long-awaited financial services cases are set to go to trial in January, giving court watchers plenty to look forward to in 2019 — from complex fraud suits to a showdown over insurance in the Deepwater Horizon Disaster. Here Law360 looks at the key cases coming in the year ahead.

  • January 1, 2019

    3 International Arbitration Trends To Watch In 2019

    As the new year gets underway, practitioners can expect to see a number of trends within international arbitration — including the watering down of investment protection, a rise in the number of contractual disputes and the ongoing evolution of arbitral rules — continue to unfold. Here are three international arbitration trends you need to know about for 2019.

  • December 21, 2018

    UK Customers Hit As 2 Insurers Collapse, Regulators Say

    Gibraltar-based motor insurer Horizon has entered into administration, affecting 1,700 customers in Britain, while a Danish insurance company that also operates in the U.K. and across Europe has gone bankrupt, creating extra work for regulators ahead of Christmas.

  • December 20, 2018

    British Gov't Maps Out Post-Brexit Gibraltar Financial Ties

    The British government laid out several legislative measures on Wednesday to ensure that financial services are disrupted as little as possible after Brexit, ranging from guaranteeing passporting rights with Gibraltar to duplicating securitization law.

  • December 20, 2018

    UK, EU Regulatory News To Know As 2018 Winds Down

    European Union and U.K. authorities geared up to celebrate the holidays by releasing a flood of proposals, legislation and reports this week ranging from directives on sustainability for financial institutions to caps on the compensation for some medical claims. 

Expert Analysis

  • 6 Trends Will Shape Future International Commercial Disputes

    Cedric Chao

    The world of international litigation and arbitration tends to move slowly — however, I expect the pace of change to accelerate in the coming decade as six trends take hold, says Cedric Chao, U.S. head of DLA Piper's international arbitration practice.

  • Fortis Case Confirms Viability Of Dutch Settlement Law

    Jonathan Richman

    A Dutch court's approval this month of a €1.3 billion ($1.5 billion) collective settlement of claims brought by shareholders of the former Fortis shows that the Dutch Act on Collective Settlement of Mass Claims can be used to resolve transnational disputes on a classwide, opt-out basis, say Jonathan Richman of Proskauer Rose LLP and Ianika Tzankova of Tilburg University.

  • UK Reflective Loss Rule Impedes Shareholder Recovery

    David Gerber

    The U.K. High Court's recent decision in Breeze and Another v. Chief Constable of Norfolk illustrates the great difficulty shareholders face when trying to recover loss caused by a wrong done to a company, especially if the company is unwilling or unable to pursue the claim itself, say David Gerber and Joshua Reynolds of Arnold & Porter.

  • Opinion

    Law360's Global 20 Doesn't Acknowledge Global Networks

    Glenn Cunningham

    While I read with interest Law360's report analyzing the top 20 global law firms of 2018, I also noticed it doesn't tell the whole story. Global networks of independent law firms compare favorably with multinational firms in terms of geographic coverage, legal expertise, and awareness of local cultures and customs, says Glenn Cunningham of Interlaw Ltd.

  • Despite Brexit, Business As Usual For FCA

    Ben Ticehurst

    The U.K. Financial Conduct Authority has acknowledged that Brexit will present challenges, and will set aside some resources in preparation, but its business plan for 2018-2019 sends a strong message that there will be no let-up when it comes to detecting and prosecuting market abuse, says Ben Ticehurst of Rahman Ravelli Solicitors.

  • The Final Word On No Oral Modification Clauses In The UK

    Kathryn Rowe

    The U.K. Supreme Court's recent decision in Rock v. MWB came down on the side of commercial certainty, establishing that "no oral modification" clauses mean exactly what they say. Nonetheless, the decision may lead to some problematic cases, say Kathryn Rowe and Peter McMaster QC of Appleby Global.

  • EU's Proposed Premarketing Rules May Disrupt Fundraising

    John Young

    The European Commission's proposal to amend key European fund management directives introduces new conditions for premarketing a fund in the EU. Unless this proposal is substantially loosened, managers may risk increased regulatory scrutiny if they continue with current fundraising practices, says John Young of Ropes & Gray LLP.

  • UK Overseas Territories Disclosure Rule May Be Premature

    Ian Hargreaves

    Section 51 of the U.K.'s new Anti-Money Laundering Act imposes public beneficial company ownership registers in the British overseas territories. A general push for enhanced disclosure can only be welcomed, but this particular initiative may not be the correct means to reach a worthy goal, say Ian Hargreaves and Stephanie Sarzana of Covington & Burling LLP.

  • Myths And Facts About Using TAR Across Borders

    John Tredennick

    Many legal teams involved in cross-border matters still hesitate to use technology assisted review, questioning its ability to handle non-English document collections. However, with the proper expertise, modern TAR can be used with any language, including challenging Asian languages, say John Tredennick and David Sannar of Catalyst Repository Systems.

  • Predictions For UK Prudential Regulation Authority Standards

    Jamie Monck-Mason

    Two years after the U.K. Financial Conduct Authority acknowledged the threat cyberattacks pose to the U.K.'s financial system, little progress has been made. The Prudential Regulation Authority's new operating standards, expected to publish this year, must show that it is taking cybersecurity seriously, but without stifling innovation, says Jamie Monck-Mason of Willis Towers Watson.